March 24, 2020 / 12:29 AM / 8 days ago

Australia c.bank to buy up to $2.4 bln in govt bonds as part of QE

SYDNEY, March 24 (Reuters) - The Reserve Bank of Australia (RBA) proposed on Tuesday to buy A$4 billion ($2.35 billion) in government bonds as part of its quantitative easing (QE) programme to keep short-term yields around the cash rate of 0.25%.

The RBA will buy bonds maturing in December 2021, July 2022, April 2026 and November 2028, it said.

The RBA has purchased A$9 billion in Australian government bonds since it launched QE on March 20 in a bid to ensure credit was cheap and freely available across the economy as the hit from the coronavirus pandemic deepens. ($1 = 1.7013 Australian dollars) (Reporting by Swati Pandey; Editing by Muralikumar Anantharaman)

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